Published on 8/28/2014 in the Prospect News Municipals Daily.
New Issue: Fairfield City School, Ohio, prices $61.36 million of school G.O. bonds
By Sheri Kasprzak
New York, Aug. 28 – The Fairfield City School District of Ohio sold $61,355,000 of series 2014 unlimited tax school improvement general obligation bonds, according to a pricing sheet.
The bonds (Aa3//AA) were sold through senior manager RBC Capital Markets LLC.
The bonds are due 2015 to 2039 with a term bond due in 2044. The serial coupons range from 2% to 5% with 0.25% to 3.38% yields. The 2044 bonds have a 5% coupon priced at 112.474 to yield 3.40%.
Proceeds will be used to fund the district’s self-funded portion of school construction under the Ohio Classroom Facilities Assistance Program.
Issuer: | Fairfield City School District
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Issue: | Series 2014 unlimited tax school improvement general obligation bonds
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Amount: | $61,355,000
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Type: | Negotiated
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Underwriter: | RBC Capital Markets LLC (lead)
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Ratings: | Moody’s: Aa3
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| Fitch: AA
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Pricing date: | Aug. 27
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Settlement date: | Sept. 11
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Amount | Maturity | Type | Coupon | Price | Yield
|
$100,000 | 2015 | Serial | 2% | 101.988 | 0.25%
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$100,000 | 2016 | Serial | 2% | 103.252 | 0.47%
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$100,000 | 2017 | Serial | 2% | 103.838 | 0.76%
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$100,000 | 2018 | Serial | 2% | 103.589 | 1.11%
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$100,000 | 2019 | Serial | 2% | 102.563 | 1.48%
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$100,000 | 2020 | Serial | 2% | 101.389 | 1.76%
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$1.26 million | 2021 | Serial | 2.25% | 101.855 | 1.97%
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$1.29 million | 2022 | Serial | 2.5% | 102.147 | 2.21%
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$1.32 million | 2023 | Serial | 5% | 121.769 | 2.34%
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$1.43 million | 2024 | Serial | 5% | 120.763 | 2.45%
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$1.5 million | 2025 | Serial | 4% | 110.378 | 2.71%
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$1.56 million | 2026 | Serial | 3% | 99.393 | 3.06%
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$1.73 million | 2027 | Serial | 3% | 98.499 | 3.14%
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$1,785,000 | 2028 | Serial | 5% | 117.451 | 2.82%
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$1.87 million | 2029 | Serial | 5% | 116.749 | 2.90%
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$2.01 million | 2030 | Serial | 5% | 116.226 | 2.96%
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$2.11 million | 2031 | Serial | 5% | 115.706 | 3.02%
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$2,215,000 | 2032 | Serial | 5% | 115.102 | 3.09%
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$2,455,000 | 2033 | Serial | 5% | 114.673 | 3.14%
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$2.58 million | 2034 | Serial | 5% | 114.246 | 3.19%
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$2.71 million | 2035 | Serial | 5% | 113.821 | 3.24%
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$2.89 million | 2036 | Serial | 5% | 113.398 | 3.29%
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$3,035,000 | 2037 | Serial | 5% | 113.061 | 3.33%
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$3,185,000 | 2038 | Serial | 5% | 112.809 | 3.36%
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$3.48 million | 2039 | Serial | 5% | 112.641 | 3.38%
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$20.34 million | 2044 | Term | 5% | 112.474 | 3.40%
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